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Stock impact report

MGP Ingredients Reports First Quarter 2019 Results

MGP Ingredients, Inc. (MGPI) 
Last mgp ingredients, inc. earnings: 4/30 07:30 am Check Earnings Report
US:NASDAQ Investor Relations: ir.mgpingredients.com
Company Research Source: GlobeNewswire
ATCHISON, Kan., May 01, 2019 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq:MGPI), a leading supplier of premium distilled spirits and specialty wheat proteins and starches, today reported results for the first quarter ended March 31, 2019. 2019 first quarter results compared to 2018 first quarter results Consolidated sales increased 1.3% to $89.1 million, reflecting growth in both the Ingredient Solutions and Distillery Products segments.Consolidated gross profit decreased 12.1% to $16.7 million, as gross profit declined in both the Ingredient Solutions and Distillery Products segments.Consolidated operating income decreased 18.1% to $8.5 million.Earnings per share increased to $0.57 per share from $0.52 per share, reflecting a tax benefit resulting from vested share-based awards. “Our results for the quarter are lighter than we would have liked and reflect both order timing and headwinds to our business. However, we do not believe they are the result of any changes to underl Show less Read more
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